Firm building Limerick estate collapses into receivership

Receiver appointed to Genesis Homes

Nick Rabbitts

Reporter:

Nick Rabbitts

Firm building Limerick estate collapses into receivership

Sli na Manach in Mungret

THERE are fears of another half-finished estate in Limerick after the builders behind a high-end scheme collapsed into receivership.

A receiver has been appointed to Genesis Homes (Mungret), which was charged with building the units at Sli na Manach in Mungret.

The estate is slated to have around 200 homes – but only around half of these have been built so far, with many people seeking to purchase units on a ‘buy and build’ basis. 

The Leader understands the backers of Genesis Homes – which was building a mix of four and five bedroom family homes in the area – grew impatient with the speed of the project and pulled their support.

Now, fears are growing among residents as to who will manage the estate.

Claire Keating, the first resident in Sli na Manach back in 2009, said: “I have been living on a building site for the last seven years. I am scared of living on a building site forever, and as a result our house prices plummeting. It’s a ridiculous situation. It’s the second set of builders here, and we just do not know what is going on.”

Local Fine Gael councillor Daniel Butler said he was fearful that some people may have deposits down for homes which are currently being built.

In its publicity, Genesis Homes described Slí na Manach as “a superb balance between city and country living.”

“These homes are bright and spacious, ideal for both young families and busy professionals,” it added.

Homes were being sold there for up to €230,000, according to the Property Price Register.

In terms of services provided – such as grass cutting and estate maintenance – Cllr Butler said residents will receive “the full support of councillors” in terms of having the local authority take over this.

“We can look at putting in a plebiscite to facilitate in the taking over the maintenance of the estates,” he confirmed.

“But nobody wants to be in an unfinished estate. In terms of who is coming in to complete it, will they act responsibly,” he asked.

Cllr Butler believes a possible reason for a slowdown at Sli Na Manach is the number of other building projects currently going on across the region.

“In the area we have Adare Manor, which is the biggest building site in Munster at the moment, so locally that is taking up a lot of people. With other building projects coming up locally in terms of schools, there is a shortage of skilled labour. There is even a shortage of general foreman,” he said.

Genesis Homes did not respond to a request for comment.

The firm was seeking planning permission for 21 new houses as recently as last week. But it’s unclear now whether these will proceed in the short term.